DUBLIN--(BUSINESS WIRE)--The "Air Transport Used Serviceable Material (USM) Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global aircraft USM market is likely to grow at a promising CAGR of 4.1% in the long run to reach US$ 9.5 Billion in 2027.
Aging aircraft fleet, early aircraft retirements led by the pandemic, and increasing focus of major airlines to influx used serviceable materials in their maintenance plans to drive down operational costs are the factors, leading to surplus supply of used serviceable material (USM) to the airlines in the aviation MRO market.
The low cost of USM is the biggest factor behind the exponential growth in the market. A USM part can bring down the cost by 60% to 80% of an OEM new part. On average a commercial aircraft retires after 25 to 30 years of its service life.
The sudden outburst of the pandemic has led to the massive decline in the aviation industry across regions with thousands of planes were grounded due to reduced air travel demand. The graver impact of the pandemic was registered across the supply chain including the level of components. Air Transport USM, a sizeable market, could not escape from such trends and witnessed a colossal decline (-41%+ in 2020) amid the pandemic, quite aligned with the decline in aircraft production.
During the pandemic, trading of USM parts has been stalled with the cancellation of several transactions related to the purchase of spare parts.
However, with the resumption of air travel, as well as the focus of airlines on reducing operational costs, the market is rebounding in the year 2021 with the ramp-up in confidence. Despite suffering a huge decline in 2020, the aircraft USM market is set to grow enormously with a rate of 68+% through 2022, driven by a large number of aircraft being retired early due to the pandemic. In the year 2020, more than 2,500 aircraft were retired compared to an average retirement of 1,100 aircraft in recent years.
Key Players
The increase in future developments and recovery in the supply chain has led the industry to drive forward, resulting in improved R&D and other investments, thereby, increasing overall operational performance. The used serviceable material market is fragmented with multiple players providing singular solutions. The following are the key players in the aircraft USM market.
- GA Telesis, LLC
- AAR Corp.
- The Boeing Company (formerly Aviall Services, Inc.)
- Liebherr Aerospace
- GE Aviation
- Pratt & Whitney (Division of Raytheon Technologies Corporation)
- A J Walter Aviation Limited
- Lufthansa Technik AG
- Delta Material Services, LLC
- AerSale, Inc.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The aircraft USM market is segmented into the following categories:
Air Transport USM Market, by Aircraft Type
- Narrow-body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Wide-body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Turboprop Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Air Transport USM Market, by Product Type
- Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Components (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Airframe (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Air Transport USM Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
For more information about this report visit https://www.researchandmarkets.com/r/ybvqrf
